A two-bedroom, two-bathroom penthouse apartment in Kirribilli, with sweeping views of Sydney Harbour has sold at auction for $6.1 million in a weekend that bought property hunters out across the country.
The stunning apartment in the prestigious 'Gainsborough' tower piqued the interest of four registered bidders at Saturday morning's auction.
Located at the exclusive tip of the Kirribilli peninsula, the modern apartment at 31/50 Upper Pitt Street boasts views of harbour icons, including the Opera House and the Harbour Bridge, from every room.
"It's got the best views in Kirribilli, it's in a tightly-held building, and it hasn't been sold in 46 years," said listing agent Nigel Mukhi of Di Jones, Neutral Bay.
Bidding started at $5 million with two of the four registered bidders raising their hands throughout the competitive auction, with the breathtaking apartment selling under the hammer for $6.1 million.
Mr Mukhi said the successful bidder was a local downsizer who was drawn to the location and the views.
The apartment was one of 632 auctions in Sydney last week, up from 612 the previous week, according to CoreLogic. This time a year ago, 765 homes went to auction across the city.
Mr Mukhi said stock in the area, which is dominated by owner-occupiers, was "pretty tight."
"This building in particular is very tightly-held," he said.
On Sunday, CoreLogic recorded a preliminary auction clearance rate for Sydney of 68 per cent from 447 reported results, down from 69.4 per cent the previous week. It is the second week running, where the preliminary clearance was below 70 per cent.
